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USD/JPY (4 Hours) - July 8th - 2013

The bulls are in control of the pair for nearly one month and pushed it along a long term upward
trend line to the resistance level around 101.49 where it rebounded. We have to wait and see if
the pair has enough power to overcome this level supported by the bullish Bollinger bands and
the climbing Demarker.

USD/JPY (4 Hours) - 16 July - 2013

The bulls are in control of the pair for nearly one month and pushed it along a long term upward Fibonacci fan to the resistance level around 101.36 where it rebounded and declined down to the support around 98.57 by traversing the fan, before increasing along the lower fan line again.
We have to wait and see if the pair has enough power to continue this trend. According to the bullish Bollinger bands and a recovering MACD we might expect further gains.

Some of board members at the Bank of Japan noted during June’s board meeting that extending the duration of fixed supplying operations rates may help the nation’s interest-rate fluctuations.

Moreover, current suggestions by some of BOJ’s board members came amid the recent attempts from the bank and Japanese government to spur the world’s third largest economy amid the recent instable global economic performance and Asia’s underestimated growth forecasts.

The pair is hovering around the EMA50 which acts as an intraday resistance at 99.65 that supports the continuation of the preferred bullish trend in our last report, where we continue in our expectations for a decline that targets initially 98.00, while achieving it requires holding below 100.50

Breaking below 99.10 will ease achieving the waited targets.

Expected trading range for today is between 97.50 support and 100.50 resistance.

The pair provided clear positive trading yesterday to settle above the previously broken support at 99.85, and stop the bearish scenario, as we notice the contradiction between EMA50 positivity and stochastic negativity, and this needs to get confirmation signal for the next trend, this signal will be provided by breaking below 99.80 or breaching above 101.15

Expected trading range for today is between 99.00 support and 101.15 resistance.

USD/JPY (4 Hours) - 29 July - 2013

As you can see the currency pair declined close to a five week low around the support level 97.66 and the lowest Bollinger band. The Demarker is showing an oversold market so we might see trend reversal otherwise further losses are more than likely.